News

Government to Double Fisheries Stockpile for Price Stabilisation

SOUTH KOREA - South Korea plans to more than double its stockpile of key fisheries products to help stabilise their prices, especially ahead of major traditional holidays, the government said Tuesday.

According to the Ministry of Oceans and Fisheries, the government will spend nearly 50 billion won (US$43.8 million) this year to double its own stockpile of fisheries products from 9,500 tons last year to 19,000 tons, or about two per cent of total domestic consumption, reports YonhapNewsAgency.